Russian fund seeks to exit Voltyre venture with Titan

Quincy, Illinois – An affiliate of Russian Direct Investment Fund (RDIF), one of three shareholders of Voltyre-Prom, has notified Titan International Inc. it is exercising a ‘put option’ on its share in the Russian tire maker, which could be worth up to $76.2 million (€66.9 million).

The move obligates Titan to buy RDIF’s shares in Voltye-Prom at a predetermined value, an obligation Titan can settle either with cash or in Titan common stock.

The cash option would range from $74.3 million to $76.2 million, while the stock…

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